Gold Continues to Challenge Record Resistance Levels
👋Hello everyone, what are your thoughts on 
XAUUSD ?
As of this writing, gold continues its upward momentum, having reached new highs as investors increase their bets on the Federal Reserve cutting interest rates in the near future. The concerns over the U.S. government shutdown and global economic instability have further strengthened gold’s position as a safe haven asset.
At the same time, the U.S. Dollar is under pressure due to expectations of monetary easing, which is paving the way for further gains in gold.
Technically, gold is currently consolidating in a range, repeating patterns seen in the past. The current support level is around $3,815, while the immediate resistance is near the $3,900 mark. If the price breaks this resistance, the next target could be higher record levels.
Overall, the short to medium-term outlook still favors the bulls. Do you agree? Feel free to share your thoughts in the comments!
XAUUSD ?As of this writing, gold continues its upward momentum, having reached new highs as investors increase their bets on the Federal Reserve cutting interest rates in the near future. The concerns over the U.S. government shutdown and global economic instability have further strengthened gold’s position as a safe haven asset.
At the same time, the U.S. Dollar is under pressure due to expectations of monetary easing, which is paving the way for further gains in gold.
Technically, gold is currently consolidating in a range, repeating patterns seen in the past. The current support level is around $3,815, while the immediate resistance is near the $3,900 mark. If the price breaks this resistance, the next target could be higher record levels.
Overall, the short to medium-term outlook still favors the bulls. Do you agree? Feel free to share your thoughts in the comments!
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✅Win rate up to 80%
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💎 - Telegram: t.me/+6v7LMJO7cI04Nzg1
✅Free Signals, Constant Updates
✅Suitable for both beginners and professionals
✅Win rate up to 80%
🔥XAUUSD – Forex – Bitcoin
✅Free Signals, Constant Updates
✅Suitable for both beginners and professionals
✅Win rate up to 80%
🔥XAUUSD – Forex – Bitcoin
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.